Equities research analysts forecast that Boston Properties, Inc. (NYSE:BXP) will announce sales of $684.50 million for the current quarter, according to Zacks. Two analysts have provided estimates for Boston Properties’ earnings, with the highest sales estimate coming in at $690.40 million and the lowest estimate coming in at $678.60 million. Boston Properties posted sales of $666.67 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is expected to issue its next earnings report on Tuesday, October 26th.
On average, analysts expect that Boston Properties will report full-year sales of $2.74 billion for the current fiscal year, with estimates ranging from $2.72 billion to $2.76 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.81 billion, with estimates ranging from $2.76 billion to $2.84 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Boston Properties.
Boston Properties (NYSE:BXP) last issued its quarterly earnings data on Monday, July 26th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.14. The business had revenue of $713.81 million for the quarter, compared to the consensus estimate of $691.17 million. Boston Properties had a return on equity of 3.86% and a net margin of 11.30%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS.
In other news, EVP Raymond A. Ritchey sold 45,000 shares of the stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $113.15, for a total transaction of $5,091,750.00. Following the transaction, the executive vice president now owns 18,410 shares in the company, valued at $2,083,091.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Peter V. Otteni sold 5,027 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $113.36, for a total value of $569,860.72. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. FFT Wealth Management LLC bought a new position in shares of Boston Properties in the 2nd quarter valued at $28,000. FinTrust Capital Advisors LLC bought a new position in shares of Boston Properties in the 2nd quarter valued at $34,000. Credit Agricole S A increased its stake in shares of Boston Properties by 159.9% in the 2nd quarter. Credit Agricole S A now owns 408 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 251 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Boston Properties by 102.3% in the 1st quarter. Bessemer Group Inc. now owns 435 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 220 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Boston Properties by 49.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 448 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.
Shares of BXP traded down $0.25 on Tuesday, reaching $110.38. 440,309 shares of the stock traded hands, compared to its average volume of 1,025,695. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 57.19, a P/E/G ratio of 2.93 and a beta of 1.22. The company has a debt-to-equity ratio of 1.58, a current ratio of 4.75 and a quick ratio of 4.75. Boston Properties has a 12 month low of $69.69 and a 12 month high of $124.24. The stock’s 50-day moving average price is $114.95 and its 200-day moving average price is $112.01.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 3.55%. Boston Properties’s dividend payout ratio is currently 62.32%.
About Boston Properties
Boston Properties, Inc operates as a real estate investment trust. It develops, acquires, manages and owns a portfolio of Class A properties. The firm operates through the following geographical locations: Boston, New York, San Francisco and Washington. The company was founded by Mortimer Benjamin Zuckerman and Edward H.
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